In a busy day for securitisation, the Basel Committee released today the new BCBS revised securitisation framework. The new Basel securitisation framework is the document setting out the proposed final capital rules for banks’ holdings of securitisation positions and is proposed to be implemented by January 2018. With the recent statement by the BCBS of the EU’s non-compliance with the Basel standards on the LCR, some have queried whether this new set of rules will be globally adopted within the timeframe proposed by the Basel Committee. In addition, the interaction between this final framework and the BCBS/IOSCO’s work stream whose consultative document was also released today, and whether the work of this work stream presages a further review of the securitisation framework remains at this time unclear.
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